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4 Hour Strategy (MACD)

  • #23,141
  • Edited 10:16pm Jul 5, 2010 12:35pm | Edited 10:16pm
Based on the 8 EMA the 4HR stalled with a Long entry

Monday 7-5-2010
Entry Long 1.2533
Target 1.2600
Stop 1.2459

Update 6:47pm EST: US Holiday, price stood still most of the day. Stop is under the 21 EMA watching for possible strike down to that line....

Update 10:50pm EST: As Asia made the move to the 21 EMA 4HR, Long entry at 1.2480 line from last week pullback for +30 pips, while the initial Long remained in......(2nd chart)

Update 11:10pm EST: I released the Long at 1.2524 for a -10 pip loss, I will consider re-entry in the coming hours.
Attached Image(s) (click to enlarge)
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  • #23,142
  • Jul 6, 2010 1:08am Jul 6, 2010 1:08am
Quoting arathi
hi frnds,

can someone pls help me to understand how to run the EA.....unable to run any EA

Regards

Amit
Hello! What EA are you talking about, there isn't any EA withing this strategy.
  • #23,143
  • Jul 6, 2010 1:12am Jul 6, 2010 1:12am
I took G/U long, reasons TC from 21 and supporst, tail to the 21. Entry 1.5146, Sl 1.5103, 1st TP 1.5200, the other will trail on 1h.

USD/CHF short, TC from 21 and support, broken flag formation. Entry 1.0607, Sl 1.0672, TP 1.0513 on both lots.
Attached Images
  • #23,144
  • Jul 6, 2010 11:12am Jul 6, 2010 11:12am
Quoting saka
Dear friend

I didn't post for a while untill I saw your post, I think I need to say something.

When I first learnt Phillip's 4h strategy, I think I have found a good machanic system which I only focus at certain pairs and its 4h chart. The more I learnt, the more I find that I need more traditional strategies to assitant this one. Finally I realised that 4h strategy is such one that a good entry strategy! [b]After using traditional methods to analyse daily/weekly chart, then find good opportunities to entry at 4h chart, which definitely would...

Nice explanation Saka... Been a while since your last post... I made a couple of wrong trades these days. Some of them are just what u have shown in your chart. The twisted one that you explained! I took sell and price went up! Guess that I still have so much to learn... Thanks again Saka for your explanation... Btw, how's your exam going? :-bd
  • #23,145
  • Jul 6, 2010 11:20am Jul 6, 2010 11:20am
Sell USDCAD @ 1.06108, but took TP too early as I was concern about the news: building permits (high impact), but what happened then, price still moving further down... This makes me confuse sometime. Should I trade during the news or should I not? What kind of news that I should avoid or neglect? Can someone give me an advice here? Thank you so much in advance...
Attached Image
  • #23,146
  • Jul 6, 2010 11:23am Jul 6, 2010 11:23am
Quoting ira
I took G/U long, reasons TC from 21 and supporst, tail to the 21. Entry 1.5146, Sl 1.5103, 1st TP 1.5200, the other will trail on 1h.

USD/CHF short, TC from 21 and support, broken flag formation. Entry 1.0607, Sl 1.0672, TP 1.0513 on both lots.

Nice trade, Ira...
  • #23,147
  • Jul 6, 2010 2:55pm Jul 6, 2010 2:55pm
Quoting hammerhead
Sell USDCAD @ 1.06108, but took TP too early as I was concern about the news: building permits (high impact), but what happened then, price still moving further down... This makes me confuse sometime. Should I trade during the news or should I not? What kind of news that I should avoid or neglect? Can someone give me an advice here? Thank you so much in advance...
Hi hammerhead,
I was observing this but did not take this trade. I was not aware of the news and this has been sHs formation to me. Price fall 38 fibo of the last move up.
Not really sHs?
To me news are traded ambigously nowadays.
  • #23,148
  • Jul 6, 2010 7:11pm Jul 6, 2010 7:11pm
Quoting lukis
Hi hammerhead,
I was observing this but did not take this trade. I was not aware of the news and this has been sHs formation to me. Price fall 38 fibo of the last move up.
Not really sHs?
To me news are traded ambigously nowadays.
Hi Lukis,

I don't think I see this as sHs. sHs to me is that both shoulders must below than the high of its head. If you carefully see this, you will see that the price has been in strong resistance in 1.0675 level. You'll also notice that in D1 chart price has seems rejecting 1.0675 area with tails. As a matter of fact, I think price will still move further down to at least 21 ema on D1, though price seems pulling back with green pin bar. I believe its true intention is moving to the downside. I just reentered @ 1.05295. Wish me luck...
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  • #23,149
  • Jul 7, 2010 12:07am Jul 7, 2010 12:07am
Quoting hammerhead
Sell USDCAD @ 1.06108, but took TP too early as I was concern about the news: building permits (high impact), but what happened then, price still moving further down... This makes me confuse sometime. Should I trade during the news or should I not? What kind of news that I should avoid or neglect? Can someone give me an advice here? Thank you so much in advance...

Phillip told us not to trade only rates (we have them tomorrow) and NFP - the first Friday each month, that's all. And even on these days you can trade, but be sure that at the time of their release you should be b/e or better close your trade. I try not to open trades on the days of this strong news, but I like sometimes to trade after NFP, when the market is settled and got its direction.

When I did my backtesting I ignored the news, and the result were very good. Only NFP is seen on the chart with it's huge moves. Hope this helps.
  • #23,150
  • Jul 7, 2010 2:08am Jul 7, 2010 2:08am
Quoting hammerhead
Nice explanation Saka... Been a while since your last post... I made a couple of wrong trades these days. Some of them are just what u have shown in your chart. The twisted one that you explained! I took sell and price went up! Guess that I still have so much to learn... Thanks again Saka for your explanation... Btw, how's your exam going? :-bd
It's OK, thank you. This is the graduation course of fiance. I think I did it very well. I will know the result in the early of August
Plan your trades and trade your plans
  • #23,151
  • Jul 7, 2010 3:18am Jul 7, 2010 3:18am
Quoting hammerhead
Hi Lukis,

I don't think I see this as sHs. sHs to me is that both shoulders must below than the high of its head. If you carefully see this, you will see that the price has been in strong resistance in 1.0675 level. You'll also notice that in D1 chart price has seems rejecting 1.0675 area with tails. As a matter of fact, I think price will still move further down to at least 21 ema on D1, though price seems pulling back with green pin bar. I believe its true intention is moving to the downside. I just reentered @ 1.05295. Wish me luck...
EDIT: Whoops... Just stopped out! I think I really have to learn from Ira's slogan: TRADE WHAT YOU SEE...

Thanks Ira, for your thoughts...
  • #23,152
  • Jul 7, 2010 3:37am Jul 7, 2010 3:37am
hi
As i'm a new commer here, after my first question 3 weeks ago I was shooted to the first page of this thread. and now i fully studied all those posts indicated there. and i really thank u for ur shooting coz i found answer for most of my questions.
but i have a question that i didnt find there.
(?) entering a thread should be done at the begining of a 4 hour candle or it can be done during the formation.because sometimes macd gives signal after 3 hours.
(I only found in a ppost by philip in which he had said entering shoud not be done at the first seconds of a candle but it didnt fully satisfy my problem)
thanks in advance
  • #23,153
  • Jul 7, 2010 7:19am Jul 7, 2010 7:19am
Quoting hammerhead
EDIT: Whoops... Just stopped out! I think I really have to learn from Ira's slogan: TRADE WHAT YOU SEE...

Thanks Ira, for your thoughts...
the thing is.. I followed your advice and went out!
What to say?

Hmm, trade what you see and do not follow blindly... Means: plan your trades, as Saka says
  • #23,154
  • Edited 9:12am Jul 7, 2010 8:51am | Edited 9:12am
Quoting lukis
the thing is.. I followed your advice and went out!
What to say?

Hmm, trade what you see and do not follow blindly... Means: plan your trades, as Saka says
I'm sorry Lukis....I'll make it up to you once I got another entry... PM me your YM address, if you're interested. Thanks!

Was entering this morning by TC on H1 though...

Btw, I'm selling it again now... TC @1.0610... don't take me for granted... U are at ur own risk...
Attached Images
  • #23,155
  • Jul 7, 2010 12:33pm Jul 7, 2010 12:33pm
Quoting hammerhead
I'm sorry Lukis....I'll make it up to you once I got another entry... PM me your YM address, if you're interested. Thanks!

Was entering this morning by TC on H1 though...

Btw, I'm selling it again now... TC @1.0610... don't take me for granted... U are at ur own risk...
good trade, Hammerhead.. hope you are still riding it
  • #23,156
  • Jul 7, 2010 5:48pm Jul 7, 2010 5:48pm
Quoting ashes
good trade, Hammerhead.. hope you are still riding it
Thanks Ashes... Was a good one actually.... TP as planned!
  • #23,157
  • Jul 8, 2010 12:40am Jul 8, 2010 12:40am
Quoting marmarestan
hi
As i'm a new commer here, after my first question 3 weeks ago I was shooted to the first page of this thread. and now i fully studied all those posts indicated there. and i really thank u for ur shooting coz i found answer for most of my questions.
but i have a question that i didnt find there.
(?) entering a thread should be done at the begining of a 4 hour candle or it can be done during the formation.because sometimes macd gives signal after 3 hours.
(I only found in a ppost by philip in which he had said entering shoud not be done at the...
Well done reading the first page posts! You are right, there are all answers you need and if something is not clear we are here to help you .

Yes, you should always wait for the signal candle to close at this stage. You are only starting, so don't confuse yourself. Wiit for the close of the 4h candle, because many times you will see how signal disappears and you end up with losing trade. It is better to miss a trade, than get a loss.

Later, when you learn this strategy well, you will start to anticipate the coming rhythm and the signal, then there is a 1h technique to enter a bit early.
  • #23,158
  • Jul 8, 2010 12:44am Jul 8, 2010 12:44am
Quoting hammerhead
EDIT: Whoops... Just stopped out! I think I really have to learn from Ira's slogan: TRADE WHAT YOU SEE...

Thanks Ira, for your thoughts...
Thank you for kind words .

It works for me too, I don't plan my trades 2-3 days ahead, I just open the platform and ask myself - what do I see? If there is something that caught my attention I start planning the trade, if not I just walk away. It is all about patterns, I don't care what price is going to do. The most important if you recognize something that worked before and you collect odds for the trade.
  • #23,159
  • Jul 8, 2010 1:04am Jul 8, 2010 1:04am
Hi, Is this is a valid DT pattern? Target between 8ma and 21ma and SL at 1.26050.

http://img821.imageshack.us/img821/9351/eurusd2.gif

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  • #23,160
  • Jul 8, 2010 4:53am Jul 8, 2010 4:53am
Quoting wuming79
Hi, Is this is a valid DT pattern? Target between 8ma and 21ma and SL at 1.26050.
you could call it a double top, but rather a macd price divergence. on my platform I'd have to wait 3 more hours before candle close. one could enter on this ct. however, I'm going to pass and wait for a tc later on.
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